Who owns Rolex

A watch brand whose popularity and reputation are unparalleled: Rolex. The Swiss company, based in Geneva, enjoys an impeccable reputation worldwide and is celebrated for its highly precise, impeccable, and stylish wristwatches. This article explores the history of the famous watch manufacturer and, in this context, also examines the company's structure.

The History of Rolex: A Brief Overview

The Rolex watch brand is inextricably linked with the name Hans Wilsdorf. This is no surprise, given that the history of today's Rolex SA began with the company Wilsdorf & Davis. Wilsdorf & Davis was founded in 1905 by Hans Wilsdorf and his brother-in-law Alfred Davis. At the time, Wilsdorf had just moved to London and was planning to establish a small but fine watchmaking company. With this in mind, the Wilsdorf & Davis company primarily produced stainless steel wristwatches, with mechanical movements supplied by the Biel-based company Aegler.

The decision to focus production on wristwatches was extremely unconventional at the time. After all, pocket watches had been the most popular until then. The wristwatch was an exciting innovation , and it was hard to predict whether it would sell. Thus, even in the early years of Rolex's history—then still called Wilsdorf & Davis—the courage to innovate played a central role.

The name Rolex, which has now become synonymous with first-class luxury watches, came into play in 1908. In 1919, the company headquarters moved to Geneva, where Rolex was registered in the commercial register as Montres Rolex SA in 2020 and still has its headquarters today.

From the introduction of the first waterproof wristwatch in 1926 to the development of the self-winding mechanism with a perpetual rotor for mechanical watches, to the deep-sea dive of the "Trieste," on whose outer shell a Rolex Deep Sea Special withstood the enormous stress in 1960, the history of Montres Rolex is marked by memorable events and impressive milestones. Over the years, the number of coveted collections and iconic watches from Rolex has steadily grown. Whether it's the Day-Date, Explorer, Submariner, GMT-Master II, or Cosmograph Daytona: There are many Rolex watches that have achieved true legendary status.

The founding of Rolex and the role of Hans Wilsdorf

One thing is certain: Without the innovative spirit, ambition, and vision of founder Hans Wilsdorf, the success story of Montres Rolex SA would not have been possible. Numerous myths surround Hans Wilsdorf and the founding of Rolex, some of which relate to the naming process. How did Wilsdorf come up with the idea of ​​naming his own brand Rolex? There is no definitive answer to this question yet. The company remains vague, stating only that Wilsdorf experimented with combining various letters and chose Rolex based on a spontaneous inspiration.

What is undoubtedly documented, however, is the fact that Hans Wilsdorf had the brand name prominently inscribed on every watch from the very beginning. Unlike today, it was not yet common practice at that time to display brand names on dials and cases. This certainly further increased the recognition value of his watches and ensured that a glance was enough to determine whether a watch was a Rolex.

Another business decision by Hans Wilsdorf that influenced the development of the Rolex company was the purchase of the watch brand Tudor in 1936. Wilsdorf acquired the company from manufacturer Philippe Hüther and established Tudor as a sister brand to Rolex. Tudor still successfully holds its own in the market today, taking its place as an affordable alternative to Rolex.

In 1945—approximately 15 years before his death—the Rolex founder finally established the Hans Wilsdorf Foundation, to which all assets and property rights were subsequently transferred. We will discuss the foundation's significance for the Rolex brand in more detail later in this article.

Today's Rolex corporate structure

The days when Hans Wilsdorf helmed the fortunes of the Rolex company are long gone, and many a watch fan wonders what the corporate structure of the watch giant looks like today. Or to put it another way: Who actually owns Rolex? After all, Wilsdorf died childless, so no direct descendants could be named as heirs. Ostensibly, the company has belonged to the aforementioned foundation since Hans Wilsdorf's passing. The profits generated by the brand flow into the foundation and are managed from there.

In accordance with Wilsdorf's wishes, the foundation's primary goal is to ensure the continued existence and development of the Rolex brand. Furthermore, Wilsdorf stipulated that the successes of Rolex SA should also benefit the Canton of Geneva through the foundation. But before we delve deeper into the mission and impact of the Hans Wilsdorf Foundation, let's turn to the people who run the company, which brings us to Jean-Frédéric Dufour. Dufour was appointed Managing Director of Rolex SA in 2015, having previously worked for Chopard and Zenith , among others.

As the successor to Gian Riccardo Marini, who led Rolex from 2011, Dufour is expected to end an era of rapid turnover in the company's senior ranks. Before Marini, who served as CEO of Rolex for only four years, Bruno Meier led the company for approximately three years. This rapid succession of appointments and replacements within the management team was rather surprising and seemed inconsistent with the core brand of Rolex SA. After all, Patrick Heiniger, perhaps the most well-known Rolex CEO after Wilsdorf, held the position for a full 16 years until his departure in 2008.

With Jean-Frédéric Dufour, who rarely appears in public, things seem to have calmed down. The current man at the helm of Rolex is not the first to maintain a conspicuously low profile and barely appear in the media. Quite the opposite: His quiet, measured leadership style is typical of the Geneva-based company.

Rolex as an independent family business

Unlike many other brands of similar size, Rolex maintains the character of an independent family business rather than being fully committed to shareholder value. Just as founder Hans Wilsdorf intended, the foundation that oversees Rolex makes it possible to think long-term and give top priority to the brand's sustainable, stable development.

It's not the stock market or shareholders that determine the future of the Rolex company, but ultimately the foundation. A fact that certainly contributes to the company's continued success. After all, Rolex could hardly be more well-known and popular worldwide than the brand currently is—and has been for many decades. Thus, Wilsdorf's recipe for success seems to be working perfectly.

In Switzerland, Rolex is also known for its generosity and investments in the common good. As already described, Hans Wilsdorf emphasized that the foundation's activities extend beyond the purely business interests of Rolex SA and that the Canton of Geneva also benefit from the company's profits. The Hans Wilsdorf Foundation remains true to this approach and supports charitable projects in the Geneva region.

Interested in a few examples? In 2017, the Foundation supported the construction of a campus for the Geneva School of Art and Design (HEAD) with approximately 100 million Swiss francs. Two years later, the Foundation invested several million in saving a cinema in Geneva, and in 2020, it contributed 50% to the financing of the Geneva State Archives. In this way and similar projects, the Hans Wilsdorf Foundation supports various small and, occasionally, considerably large projects every year. This commitment is just one of the reasons why the name Wilsdorf will probably never be forgotten and will always be associated with far more than "just" luxury watches.

The Hans Wilsdorf Foundation and its influence on Rolex

The foundation is able to support charitable projects with such large sums primarily thanks to the substantial profits Rolex generates each year. Rolex SA is by far the foundation's most valuable asset, even though the Geneva-based brand itself doesn't publish official figures. Here, the manufacturer presents the public with a bit of a mystery: How high the profit is, how many watches leave the factory each year, and the company's turnover – these are all topics about which Rolex remains rather secretive.

Given how well-known and, above all, popular Rolex watches are around the world, there's no question that the Swiss company with the renowned name is invaluable. A value that the foundation has always commanded in a way that ensures social commitment and business success are not mutually exclusive.

The Hans Wilsdorf Foundation is governed by an eight-member board of trustees, chaired by Geneva lawyer Costin van Berchem. Members include members of the Wilsdorf family, members of other prominent Genevan families, and respected politicians.

Since the Rolex company is owned by the Foundation, the Foundation and the company are inextricably linked and work together "by nature." The Foundation maintains control over the watchmaking company, while profits from the sale of luxury watches enable the Foundation to invest in the future of the brand and in social projects in and around Geneva.

Rolex and the Swiss watch industry

Nowadays, it's almost impossible to talk about the Swiss watch industry without the name Rolex immediately coming up. Rolex watches are quite simply the flagship of the Swiss watch industry and continue to stand out from the multitude of successful watch manufacturers based in Switzerland. Connoisseurs from all over the world largely agree: when it comes to quality, precision, and the sophistication of the calibers, hardly any watch can compare to an original Rolex. And that's despite the fact that the competition is extremely stiff. Among Swiss manufacturers alone, with numerous giants such as Patek Philippe , IWC , Omega , Tag Heuer , Jaeger-LeCoultre , and Breguet, competition is at an unrivaled high level.

The watch industry has a long tradition in Switzerland and generates approximately 4% of the gross domestic product each year. As the world's most famous export country for luxury watches, Switzerland is known throughout the world for its renowned brands and the stable value of its timepieces, which are shipped from Biel, Geneva, and other locations to the most prestigious jewelry stores worldwide. The Swiss watch industry owes this reputation, of course, not exclusively, but certainly in large part, to the Rolex brand.

Rolex and its brand philosophy

As already discussed in detail, innovations and historic events have played a significant role in the development and history of the Swiss luxury brand Rolex. Closely interwoven with this are the brand ambassadors, who are an integral part of the company's marketing strategy. Of course, the faces have changed over the years, but the principle remains the same: Rolex relies on inspiring, well-known personalities from sports, entertainment, art, and culture, wins them over, and thus successfully draws the attention of broad target groups to its glamorous watches.

Of course, marketing is only a small part of what makes the Swiss-based watch manufacturer sustainably successful. Following the founding of Rolex as a new, completely uncharted watch brand, it was the courage to innovate that brought the company attention and prestige. Hans Wilsdorf was more than willing to venture off the beaten path and took risks that ultimately made his own brand a success.

Rolex has always placed quality above all else. The movements of its wristwatches set standards and reliably exceed the expectations that watch enthusiasts have of a high-quality mechanical timepiece. With sophisticated movements and breathtaking complications, a Rolex watch impresses even the harshest critics.

It's also widely known that anyone who buys a Rolex is buying pure quality and luxury. The Swiss manufacturer's wristwatches are a status symbol, investment , technical masterpiece, and chic accessory all rolled into one, and through the foundation, they finance charitable projects in Geneva and the surrounding area. A combination of luxury and social commitment that Wilsdorf could hardly have imagined when he founded the company in London.

The future of Rolex: tradition and innovation

From London to Biel to Geneva, where Rolex is now based, the company has developed in a way that promises an immensely successful future. What the manufacturer's plans for the near future look like can only be speculated upon. Just as with profits and sales, Rolex is also exercising restraint when it comes to shaping its future, releasing no clear indications.

Unless the company completely reverses course and continues to focus on what has worked so well in the past, the secret to Rolex's success in the coming years will likely remain "tradition and innovation." This healthy blend of brand-new ideas and traditional core values ​​continues to produce incredibly sought-after new Rolex watches, leaving no room for disappointment in terms of design, quality, and functionality. So, we can probably look forward to outstanding mechanical watches in the future, created with expertise and attention to detail from the dial to the case to the movement—just as you would expect from Rolex.

Conclusion

Formerly based in London and now headquartered in Geneva, Rolex has released numerous world-famous wristwatches over the decades and is one of the most successful watch manufacturers in the world. A special feature of Rolex is its membership in a foundation dedicated, among other things, to social projects. The Hans Wilsdorf Foundation, to which Rolex belongs, has been working to ensure the brand's continued success since the death of its founder and supports charitable projects in and around Geneva.